William Blair Brokers Decrease Earnings Estimates for CoStar Group, Inc. (NASDAQ:CSGP)

CoStar Group, Inc. (NASDAQ:CSGP) – Investment analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of CoStar Group in a research note issued on Wednesday, April 24th. William Blair analyst S. Sheldon now forecasts that the technology company will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.16. William Blair has a “Outperform” rating on the stock. The consensus estimate for CoStar Group’s current full-year earnings is $0.44 per share. William Blair also issued estimates for CoStar Group’s FY2024 earnings at $0.43 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.33 EPS.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS.

A number of other equities research analysts have also issued reports on CSGP. The Goldman Sachs Group raised their price target on CoStar Group from $96.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods raised their price objective on CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Robert W. Baird raised their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They set a “neutral” rating on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.46.

CoStar Group Price Performance

Shares of CSGP stock opened at $90.34 on Friday. CoStar Group has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 9.09. The firm has a market capitalization of $36.90 billion, a P/E ratio of 123.75, a P/E/G ratio of 10.57 and a beta of 0.84. The stock has a 50 day moving average price of $89.55 and a 200 day moving average price of $84.68.

Institutional Investors Weigh In On CoStar Group

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in CoStar Group by 8.7% in the 3rd quarter. CWM LLC now owns 4,735 shares of the technology company’s stock valued at $364,000 after buying an additional 377 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in CoStar Group by 80.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 13,453 shares of the technology company’s stock valued at $1,034,000 after acquiring an additional 5,997 shares during the last quarter. Oak Thistle LLC acquired a new position in CoStar Group in the 3rd quarter valued at $1,019,000. Czech National Bank raised its holdings in CoStar Group by 47.6% in the 3rd quarter. Czech National Bank now owns 71,369 shares of the technology company’s stock valued at $5,488,000 after acquiring an additional 23,007 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in CoStar Group by 0.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 267,815 shares of the technology company’s stock valued at $20,592,000 after acquiring an additional 2,479 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.